Peter Jackson will begin to shoot two Hobbit films starting this coming February. Unfortunately, a feud between Jackson and the unions is still raging on. Plus, the financial problems that plague MGM aren't helping matters.

Still, the two Hobbit films are guaranteed to be successful. Jackson was able to turn the Lord of the Rings property into a billion dollar franchise, and fans are bound to turn up again in droves.

James Cameron may direct Angelina Jolie in a new film about Cleopatra that Scott Rudin (The Social Network) is producing. The project is being housed at Sony.

Cameron is still committed to doing an Avatar sequel at Fox, so that's likely to be his top priority. The Oscar-winning director is famous for taking a while to develop projects, so fans shouldn't hold their breath.